Hedge-fund billionaire Chris Rokos, Britain's third top taxpayer, is shifting his tax residency from Britain to Greece and opening an office in Athens for his firm, Rokos Capital Management. He reportedly paid £330 million in tax in Britain in 2025.
A government spokesman said: "The UK remains an attractive destination for talent and investment."
In Britain, Chancellor John Healey has not ruled out tax hikes in his Budget on October 28, and a wealth tax has also not been ruled out. Recent increases in government borrowing costs have piled further pressure on the public finances.
In June, Henley & Partners placed Greece among the world's most competitive jurisdictions for the wealthy, giving the country a score of 70.5 out of 100 in its Wealth Mobility Competitiveness report.
Buying property without residency
Buyers do not need residency in Greece to purchase a home there, and buying property does not automatically make someone a tax resident. Mark Harvey, a partner and head of international residential at Knight Frank, said average Greek property prices had risen by about 7 per cent a year since the Covid-19 pandemic, and buyers should factor in a 10 per cent buffer to cover purchase costs.
Harvey said Athens and its Riviera, Porto Heli, Corfu and Mykonos continued to attract wealthy buyers, while larger islands such as Crete and Rhodes and the mainland were drawing those seeking the Golden Visa programme and Greek residency. British buyers must remain aware of the 90-day rule, applied cumulatively across Europe over a rolling 180-day period, and anyone renting out a home needs a licence meeting certain safety standards.
George Ioannou, a private office adviser at Engel & Volkers, said the most premium part of Athens was currently the Athens Riviera, particularly Vouliagmeni, Voula and Glyfada, an area benefiting from the development of The Ellinikon. He said a growing number of British buyers were looking at Greece for tax reasons, many under time pressure to establish tax residency before the end of October.
Thomas Hardy Tsakas, owner of Greek Real Estate Consultant, said a 200 square metre house in Halkidiki near the sea could cost between €400,000 and €700,000, while an equivalent house in Larisa or Trikala could cost between €70,000 and €250,000. Experts at The Ellinikon said prices for new-build flats in Greece rose 6 per cent year-on-year in the first quarter of 2026.
Tax breaks driving the move
In June, Greece introduced tax breaks aimed at venture capital firms and hedge funds as part of a drive to attract wealthy people from Britain, Switzerland and the United Arab Emirates. Tax on bonuses and dividends in the financial sector was cut to 5 per cent from 15 per cent, on condition the company has operating expenses of at least €3 million a year in the country.
Separately, Greece's high-net-worth individual non-domicile regime, introduced in 2019, lets qualifying individuals who transfer their tax residence pay a fixed annual tax of €100,000 on foreign-source income, whatever the sum earned. The regime runs for up to 15 years and can be extended to certain family members for an extra fee.
Peter Ferrigno, director of tax services at Henley & Partners, said the Greek non-domicile rules were modelled on Britain's old non-dom system. He said the abolition of non-dom status and the removal of the Investor Visa meant that even investors who wanted to move to Britain now had no route to do so.
Anyone earning income in Greece pays income tax regardless of citizenship, and permanent residents are taxed on worldwide income at progressive rates of 9 to 44 per cent. Additional-rate taxpayers in Britain pay 45 per cent on income above £125,140. The 15 per cent capital gains tax on the sale of Greek real estate is currently suspended until December 31, 2026, making the effective rate zero for now.
How residency and Golden Visas work
Applicants cannot apply for residency in Greece until they are in the country. Within 90 days of arrival they must register their address with the regional branch of the Hellenic police and apply for a temporary residence permit. Permanent residency follows after five years on a temporary permit, and the permanent permit must be renewed every 10 years. Greece recognises dual citizenship with Britain, so applicants do not have to give up British citizenship.
Greece's Golden Visa Programme, launched in 2013, allows non-EU nationals and their families to obtain permanent residence permits through investment. Ferrigno said Greece ran two specific schemes for people who had not been tax resident there for several years: a flat €100,000 tax on foreign-source savings and investment income, for those not resident in Greece for at least seven of the past eight years, and a 7 per cent preferential rate for relocating pensioners, covering pensions and investment income, for those not resident for at least five of the past six years. Both run for up to 15 years and require an investment of between €250,000 and €800,000, either in property or in a Greek company or government bonds.
Climate: it does get cold
Greece has a Mediterranean climate, with hot, dry summers that can push temperatures above 38°C, though sea breezes ease the heat in some locations. July and August typically bring little or no rainfall. Winters are cooler but generally milder than Britain's; Tui said Greece's average January temperature was between 15°C and 17°C, though it could fall as low as 1°C, with four to six hours of sunshine a day even in winter. Tui said the best time to visit was between April and October.
Villas for sale in Greece
A three-bedroom villa in Meganisi, set above the entrance to Vathi Bay with three bathrooms, two living rooms and an infinity pool, is on sale via Knight Frank for €2.4 million.
A three-bedroom stone house in Antipata, Kefalonia, with panoramic views over meadows and the Ionian Sea and a freshwater swimming pool, is on sale via Knight Frank for €980,000. Knight Frank said its kitchen tap supplies purified and enhanced drinking water.
A seven-bedroom villa in Agios Nikolaos, Zakynthos, perched above olive groves with mature gardens and a large pool terrace, is on sale via Knight Frank for €1.2 million. It currently serves as a family holiday home and, when not in use, a rental property.
The Ellinikon: Europe's biggest regeneration project
South of Athens, on the site of the former Athens International Airport, The Ellinikon is billed as a 15-minute city and Europe's largest urban regeneration project. Its developers say it will integrate residences, commercial and leisure hubs, luxury hotels, cultural venues, sports, education, healthcare and business facilities around sustainability and innovation. Architects include Foster + Partners, and the site covers around 6.2 million square metres, roughly three times the size of Monaco.
Almost half of The Ellinikon's residential buyers come from outside the domestic Greek market, including the Greek diaspora and international buyers, with British buyers accounting for 9 per cent of registered overseas interest, second only to the United States. Prices start from €500,000 and rise to €4 million, and developers say 87 per cent of homes in one district, Little Athens, have been sold or reserved since launching on May 31.
The development will also contain the Riviera Tower, a 200-metre building that will become Greece's tallest. Developers estimate that once construction is complete in the middle of the next decade, 20,000 to 25,000 people will live in the area, 70,000 to 85,000 will work there, and it will attract 1 million tourist visits.
